{"id":51658,"date":"2025-08-07T17:38:57","date_gmt":"2025-08-07T21:38:57","guid":{"rendered":"https:\/\/stockmarketwatch.com\/stock-market-news\/market-movers-tariffs-hit-dow-tech-and-pharma-soar-on-earnings-and-strategic-moves\/51658\/"},"modified":"2025-08-07T17:38:57","modified_gmt":"2025-08-07T21:38:57","slug":"market-movers-tariffs-hit-dow-tech-and-pharma-soar-on-earnings-and-strategic-moves","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-movers-tariffs-hit-dow-tech-and-pharma-soar-on-earnings-and-strategic-moves\/51658\/","title":{"rendered":"Market Movers: Tariffs Hit Dow, Tech and Pharma Soar on Earnings and Strategic Moves"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>President <a href=\"https:\/\/thestockmarketwatch.com\/live\/trump-stock-market\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Trump\">Trump<\/a>&#39;s sweeping new tariffs<\/strong> on imports caused the <strong><a href=\"https:\/\/stockmarketwatch.com\/markets\/dowjones\/today.aspx\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Dow Jones Today\">Dow Jones<\/a> Industrial Average (<a href=\"\/stock\/DJIA\">DJIA<\/a>) to slip around 300 points<\/strong> on Thursday, marking the highest import duties in a century and raising concerns about inflation and economic growth.<\/li>\n<li><strong>Gilead Sciences (<a href=\"\/stock\/GILD\">GILD<\/a>)<\/strong> lifted its <strong>full-year outlook<\/strong> after reporting strong second-quarter HIV drug sales, with revenue and earnings modestly beating analyst expectations.<\/li>\n<li><strong>Block (<a href=\"\/stock\/SQ\">SQ<\/a>) shares surged 11%<\/strong> following a boost to its full-year guidance, driven by robust gross profit growth and positive momentum in its Square and Cash App businesses.<\/li>\n<li><strong>Ripple (<a href=\"\/stock\/XRP-USD\">XRP-USD<\/a>) announced its acquisition of stablecoin-powered payments platform Rail for $200 million<\/strong>, a strategic move aimed at expanding its enterprise-grade digital asset infrastructure and bolstering its presence in the global stablecoin market.<\/li>\n<li><strong>China unveiled a multi-year roadmap<\/strong> to achieve technological supremacy in <strong>brain-computer interfaces (BCI)<\/strong> by 2027, positioning neuroscience at the forefront of its tech rivalry with the United States.<\/li>\n<\/ul>\n<p>Major market indices saw mixed performance on Thursday as new economic policies and corporate earnings reports drove significant stock movements. The Dow Jones Industrial Average (<a href=\"\/stock\/DJIA\">DJIA<\/a>) experienced a notable decline, while several companies, including <strong>Gilead Sciences (<a href=\"\/stock\/GILD\">GILD<\/a>)<\/strong>, <strong>Block (<a href=\"\/stock\/SQ\">SQ<\/a>)<\/strong>, and <strong>Monster Beverage (<a href=\"\/stock\/MNST\">MNST<\/a>)<\/strong>, saw their shares rise on positive financial results or strategic announcements.<\/p>\n<p>The <strong>Dow Jones Industrial Average (<a href=\"\/stock\/DJIA\">DJIA<\/a>)<\/strong> fell approximately <strong>300 points<\/strong> on Thursday as President <a href=\"https:\/\/thestockmarketwatch.com\/live\/trump-stock-market\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Trump\">Trump<\/a>&#39;s new &quot;reciprocal&quot; tariffs on imports from dozens of countries officially went into effect. These sweeping levies, which introduce new rates between 10% and 41% on imported goods, have pushed U.S. import duties to their highest level in a century. <em>While global markets largely shrugged off the initial impact, concerns lingered about potential inflation and a slowdown in economic growth.<\/em> Companies like <strong>Caterpillar (<a href=\"\/stock\/CAT\">CAT<\/a>)<\/strong> saw their shares fall by <strong>3%<\/strong> after warning that tariffs would continue to impact their operating profit.<\/p>\n<p>In corporate news, <strong>Gilead Sciences (<a href=\"\/stock\/GILD\">GILD<\/a>)<\/strong> provided an optimistic update, lifting its full-year outlook after its second-quarter revenue and earnings modestly surpassed analyst expectations. The pharmaceutical giant attributed this strong performance primarily to robust sales of its HIV drugs.<\/p>\n<p>Fintech firm <strong>Block (<a href=\"\/stock\/SQ\">SQ<\/a>)<\/strong> saw its shares jump <strong>11%<\/strong> after boosting its full-year guidance. The company reported that its gross profit rose <strong>14%<\/strong> from a year earlier to <strong>$2.54 billion<\/strong> in the second quarter, exceeding analyst estimates of $2.46 billion. This positive outlook was supported by strong performance in both its Square and Cash App segments, signaling a potential reignition of its core financial engines.<\/p>\n<p>Meanwhile, <strong>Manulife Financial Corporation (<a href=\"\/stock\/MFC\">MFC<\/a>)<\/strong> experienced a share decline of over <strong>3%<\/strong> on Thursday after its quarterly earnings missed analysts&#39; estimates. The Canadian insurer&#39;s core earnings in its U.S. business tumbled <strong>53%<\/strong>, largely due to elevated credit and mortality losses, despite strong growth in its Asian operations. Manulife also made headlines with plans to acquire a <strong>75% stake in Comvest Credit Partners for approximately $1.28 billion<\/strong>, marking a strategic entry into private credit.<\/p>\n<p>In the beverage sector, <strong>Monster Beverage (<a href=\"\/stock\/MNST\">MNST<\/a>)<\/strong> shares jumped after its second-quarter sales surpassed expectations. The company benefited from increased consumption of energy drinks, leading to a projected <strong>10% year-on-year bounce in second-quarter revenue to $2.1 billion<\/strong>.<\/p>\n<p>In the cryptocurrency space, <strong>Ripple (<a href=\"\/stock\/XRP-USD\">XRP-USD<\/a>)<\/strong> announced a significant strategic acquisition, agreeing to buy stablecoin-powered payments platform Rail for <strong>$200 million<\/strong>. The deal, expected to close in the fourth quarter of 2025, aims to expand Ripple&#39;s enterprise-grade digital asset infrastructure and offer a comprehensive stablecoin payments solution, including support for its own <strong>Ripple USD (RLUSD)<\/strong> and <strong>XRP<\/strong>. Rail is projected to process over <strong>10% of the $36 billion global B2B stablecoin payments<\/strong> in 2025.<\/p>\n<p>On the geopolitical tech front, China has laid out an ambitious roadmap to achieve <strong>tech supremacy in brain-computer interfaces (BCI)<\/strong> by 2027, with the goal of becoming a top global innovator by 2030 and cultivating two to three global industry leaders. This initiative, involving seven ministries, mandates breakthroughs in key BCI technologies like electrodes, chips, and integrated products to reach advanced international standards, intensifying the <strong>US-China rivalry<\/strong> in critical technological fields.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways President Trump&#39;s sweeping new tariffs on imports caused the Dow Jones Industrial Average (DJIA) to slip around 300 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